Can I retire at age 56 with 776,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $776,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18%
1 years$64,081$63,511$62,954$62,410$61,879$59,875
2 years$31,723$31,133$30,560$30,005$29,466$27,465
3 years$20,939$20,346$19,774$19,224$18,695$16,760
4 years$15,548$14,956$14,391$13,850$13,333$11,480
5 years$12,314$11,726$11,168$10,638$10,136$8,369
6 years$10,159$9,575$9,025$8,507$8,020$6,341
7 years$8,620$8,041$7,500$6,994$6,522$4,931
8 years$7,466$6,893$6,361$5,867$5,411$3,906
9 years$6,569$6,001$5,478$4,998$4,557$3,137
10 years$5,852$5,290$4,776$4,308$3,883$2,546
11 years$5,266$4,709$4,205$3,749$3,339$2,082
12 years$4,778$4,227$3,732$3,289$2,894$1,714
13 years$4,365$3,820$3,334$2,903$2,523$1,418
14 years$4,012$3,472$2,996$2,577$2,212$1,178
15 years$3,706$3,172$2,705$2,299$1,948$982
16 years$3,438$2,910$2,452$2,058$1,721$821
17 years$3,202$2,680$2,231$1,849$1,526$688
18 years$2,993$2,476$2,037$1,666$1,357$577
19 years$2,806$2,295$1,865$1,506$1,210$485
20 years$2,637$2,133$1,711$1,364$1,080$408
21 years$2,485$1,987$1,574$1,238$967$344
22 years$2,347$1,854$1,451$1,125$867$290
23 years$2,222$1,734$1,340$1,025$778$245
24 years$2,106$1,625$1,239$935$699$207
25 years$2,001$1,525$1,147$854$629$175
26 years$1,903$1,433$1,064$781$567$148
27 years$1,813$1,349$988$714$511$125
28 years$1,730$1,271$919$655$461$106
29 years$1,652$1,199$855$600$416$89
30 years$1,580$1,132$796$551$376$76
31 years$1,512$1,070$742$506$340$64
32 years$1,449$1,013$693$465$308$54
33 years$1,390$959$647$428$278$46
34 years$1,334$909$604$393$252$39
35 years$1,282$862$565$362$228$33
36 years$1,232$818$528$334$207$28
37 years$1,186$777$495$307$187$24
38 years$1,142$739$463$283$170$20
39 years$1,100$702$434$261$154$17
40 years$1,061$668$407$241$140$14
41 years$1,023$636$381$222$127$12
42 years$988$606$358$205$115$10
43 years$954$577$336$189$104$9
44 years$922$550$315$175$95$7
45 years$891$525$296$161$86$6
46 years$862$501$278$149$78$5
47 years$834$478$261$138$71$5
48 years$808$456$245$127$64$4
49 years$782$435$231$118$59$3
50 years$758$416$217$109$53$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $776,000, adding $6,077 every year, while hoping to spend $31,411 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 66/9/25 Blend
55$776,000$776,000$776,000$776,000
56$861,420$820,292$808,264$912,305
57$915,864$827,066$801,920$954,083
58$974,809$833,118$794,311$995,644
59$1,038,679$838,381$785,360$1,040,370
60$1,107,945$842,782$774,990$1,088,574
61$1,183,120$846,243$763,117$1,140,602
62$1,264,771$848,682$749,654$1,196,835
63$1,353,521$850,011$734,511$1,257,697
64$1,450,056$850,137$717,593$1,323,650
65$1,555,129$848,961$698,800$1,395,210
66$1,669,570$846,378$678,028$1,472,943
67$1,794,293$842,277$655,168$1,557,474
68$1,930,302$836,540$630,107$1,649,494
69$2,078,702$829,040$602,726$1,749,765
70$2,240,713$819,646$572,900$1,859,128
71$2,417,673$808,216$540,499$1,978,510
72$2,611,057$794,600$505,388$2,108,935
73$2,822,491$778,641$467,424$2,251,533
74$3,053,761$760,171$426,459$2,407,551
75$3,306,838$739,012$382,338$2,578,365
76$3,583,888$714,977$334,899$2,765,490
77$3,887,300$687,866$283,974$2,970,602
78$4,219,702$657,469$229,385$3,195,547
79$4,583,990$623,563$170,947$3,442,363
80$4,983,352$585,913$108,470$3,713,297
81$5,421,302$544,270$41,750$4,010,828
82$5,901,705$498,371$0$4,337,691
83$6,428,824$447,936$0$4,704,758
84$7,007,352$392,672$0$5,119,894
85$7,642,456$332,268$0$5,575,682
86$8,339,833$266,395$0$6,076,232
87$9,105,754$194,707$0$6,626,073
88$9,947,130$116,836$0$7,230,194
89$10,871,573$32,397$0$7,894,097
90$11,887,469$0$0$8,623,842
91$13,004,056$0$0$9,431,951
92$14,231,514$0$0$10,323,881
93$15,581,055$0$0$11,304,579
94$17,065,033$0$0$12,383,030
95$18,697,062$0$0$13,569,132
96$20,492,136$0$0$14,873,793
97$22,466,778$0$0$16,309,027
98$24,639,194$0$0$17,888,077
99$27,029,442$0$0$19,625,528
100$29,659,623$0$0$21,537,455